Pre Market Report, August 25, 2020 | Stocks and Commodities

 August 25, 2020

Time: 8 am

Pre Market Report:

1. You can get details about workshop and register for workshop at www.workshop.prsundar.com
2. One more day of record close for US markets.
3. Asian markets are positive.
4. SGX Nifty is up by about 20 points.
5. SGX Nifty is not sharing the Global enthusiasm.
6. That is because, despite such a huge rally yesterday, FII buying was very less in Cash market.
7. FIIs have bought just for Rs 219 crores.
8. But DIIs have sold for Rs 336 crores.
9. During the weekend RBI Governor said markets may correct.
10. All the short sellers and Put option buyers were very happy.
11. But markets shot up on Monday.
12. As I stated in yesterday blog, Bank Nifty out performed.
13. Also as expected, Reliance is under performing.
14. All Telecom companies may under perform, going by the progress in AGR case.
15. Rupee is almost at Rs 74 per dollar.
16. So IT stocks may under perform.
17. Axis Bank will be in focus after Max Financial deal.
18. IDEA came out of traing ban and I closed all my positions. Earlier I sold 7PE, 8PE, 10PE, Call ratio ( +1X8CE, -2X10CE), 14CE.
19. Today Auro Pharama has come out of trading ban. Hoping to exit with good profits. Earlier I did short strangle 1000CE, 900PE, 960CE, 940PE, Call ratio (+1X980CE, -2X1060CE).
20. Auto and Banks doing well. Maruti looking bullish, it has already shot up about 10% in this month.
21. All Indian ADR were up in US.
22. If Bank Nifty crosses 23000, there will be further short covering.
23. I also sold lot of 23000CE.
24. Managing by selling more Put options.
25. Nifty future may trade between 11420 and 11580.